How does this all work?

Buying a house is a big decision and you will have tons of questions. A good Realtor will be there to help you through the entire process. First thing, get prequalified to find out what your options are financially. Second, decide what area you want to be in and what is important to you in a home. Third, contact us and let us do a search of available homes for you. Once you find a few homes you want to look at, we will set up an appointment to see them.

Then when you decide on a home that will work for you and our needs it’s time to put in an offer!

How long does the process take?

Once an offer is agreed to by both the buyer and seller, it takes from 30 – 45 days for the bank to complete your loan and be ready to close on the property.

Is there a cost to me to use a Realtor as a buyer?

No, there is no cost to the buyer to use a Realtor, the seller pays all the commissions. It will actually save you money by having a GOOD Realtor negotiate the best terms and conditions for you.

How much can I afford?

There are many factors in deciding how much you can afford. Check out the mortgage calculator option on our site (SignalFlorida.com) and see what your total monthly payments will be.

Do I need to be prequalified to look at houses?

Yes, it is always best to talk to a mortgage officer to find out exactly what you qualify for and what loan program you will be using. Most sellers require a letter of prequalification.

What are the different types of loan programs?

There are 3 main types of loan programs.

1 – Conventional Loan – is loan type requires a down payment of 10% – 20%.

2 – VA Loan – this loan type requires no down payment and is available for current and former military personnel.

3 – FHA Loan – this loan type requires a 3.5% down payment and is backed by the federal government. Check out our resources tab to contact a loan officer for pre-qualification.

How much should I pay for a house?

There are many factors to deciding what to pay for a house. Condition, area, size and recent sales. A good Realtor will do a competitive market analysis of the neighborhood you are considering and will use that information to decide on a price strategy.

What is homestead exemption?

Every person who owns and resides in their home in Florida on January 1 and makes the property his or her permanent residence is eligible to receive a homestead exemption up to $50,000.The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000, applies to the assessed value between $50,000 and $75,000 and only to non-school taxes. This will save you a significant amount on your yearly property taxes.

What is the difference between a foreclosure and a short sale?

A foreclosure is a property that the bank already owns. The bank will then list the property with a Realtor at an agreed list price and the transaction can close as quickly as your financing is ready – usually within 30 – 45 days. A short sale is a property that the prior homeowner still owns and is behind on their mortgage payments. They have listed the property at a price they are hoping the bank will accept (this is a price that is less than they owe on their mortgage, so they are asking the bank to take an amount short of the payoff amount – hence the name short sale).

Call or Text if you have any questions, (904) 838.3701.

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